Vaxcyte, Inc. (NASDAQ:PCVX) Stock Has Average Price Target of $110.50

Vaxcyte, Inc. (NASDAQ:PCVX) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $110.50.

Several equities analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Vaxcyte in a report on Friday, October 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $120.00 price target on shares of Vaxcyte in a report on Monday, October 12th. Zacks Research upgraded shares of Vaxcyte from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Bank of America lowered their price objective on shares of Vaxcyte from $133.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, September 28th. Finally, BTIG Research reissued a “buy” rating and set a $89.00 price objective on shares of Vaxcyte in a report on Monday, October 5th.

Insiders Place Their Bets

In related news, CAO Elvia Cowan sold 19,000 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $86.74, for a total transaction of $1,648,060.00. Following the completion of the sale, the chief accounting officer owned 27,860 shares in the company, valued at $2,416,576.40. This represents a 40.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harpreet S. Dhaliwal sold 17,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $55.00, for a total transaction of $935,000.00. Following the transaction, the insider directly owned 76,756 shares in the company, valued at $4,221,580. The trade was a 18.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 92,890 shares of company stock worth $6,320,569. Corporate insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Vaxcyte

Institutional investors and hedge funds have recently made changes to their positions in the business. IFP Advisors Inc raised its position in shares of Vaxcyte by 72.8% during the 2nd quarter. IFP Advisors Inc now owns 560 shares of the company’s stock worth $33,000 after buying an additional 236 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Vaxcyte by 1,924.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 830 shares of the company’s stock worth $38,000 after acquiring an additional 789 shares during the period. Capital Advisors Ltd. LLC bought a new position in shares of Vaxcyte in the first quarter valued at approximately $58,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Vaxcyte by 68.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,248 shares of the company’s stock valued at $73,000 after acquiring an additional 507 shares in the last quarter. Finally, Allworth Financial LP bought a new position in shares of Vaxcyte in the second quarter valued at approximately $75,000. 96.78% of the stock is owned by hedge funds and other institutional investors.

Vaxcyte Stock Up 4.0%

PCVX stock opened at $66.23 on Friday. The business’s 50-day moving average price is $61.39 and its 200-day moving average price is $57.19. Vaxcyte has a twelve month low of $39.87 and a twelve month high of $90.75.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.97) EPS for the quarter, topping the consensus estimate of ($2.06) by $0.09. During the same quarter in the prior year, the business posted ($1.22) EPS. On average, analysts expect that Vaxcyte will post -7.47 EPS for the current fiscal year.

Vaxcyte Company Profile

Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing vaccines designed to protect against serious bacterial diseases. The company is headquartered in San Carlos, California, and uses its proprietary cell-free protein synthesis and conjugation technologies to develop vaccine candidates intended to provide broad and durable immune protection.

Vaxcyte’s lead programs target pneumococcal disease, an infection caused by Streptococcus pneumoniae.